Bob owns a duplex used as rental property. The duplex has a basis of $86,000 and $300,000 FMV. He transfers the duplex to Cindy, his sister, in exchange for a triplex that she owns. The triplex has a basis of $279,000 and a $300,000 FMV. Two months after the exchange, Cindy sells the duplex to a business associate for $312,000. Determine: a. Bob’s realized and recognized gain on the exchange. b. Cindy’s realized and recognized gain on the exchange. g

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.